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there hasn't been serious cuts in defense in 30 years. the defense industry is well positioned. they have plants in something in over 300 districts. there's a lot of bipartisan defense spending. for example, the defense authorization bill that just passed yesterday in the senate gave the pentagon $17 billion more than they asked for. so to think that any industry or any taxpayer or any group of people who depend on government spending can be exempted from the serious problem that we have that's caused by this deficit is a mistake. everybody is going to have to pay for this. >> dawn, right or wrong, the defense industry has this reputation of being bloated, overcharging. are we at a point where we could afford to make cuts in defense spending to try and satisfy the needs of lowering the deficit in this country? >> you know, the real issue we've already seen through the budget control act, the defense has already witnessed significant cuts. i think when you're looking at the resolution here, resolving the negotiations so we don't go to the fiscal cliff, the real issue is everybody
there hasn't been serious cuts in defense in 30 years. the defense industry is well positioned. they have plants in something in over 300 districts. there's a lot of bipartisan defense spending. for example, the defense authorization bill that just passed yesterday in the senate gave the pentagon $17 billion more than they asked for. so to think that any industry or any taxpayer or any group of people who depend on government spending can be exempted from the serious problem that we have that's...
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Dec 6, 2012
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jeremy bowen, with our bbc partners, is there tonight and reports assad's forces are waging a fierce defense. >> throughout the day and after dark, when i'm speaking to you, there are quite steady explosions of shell fire, outgoing artillery fire, going into the suburbs around the center of the city, where i am. >> reporter: residents are caught in a worsening cross fire. >> people who came from areas that are being shelled, they are on the streets, many children, sometimes you see them crying, old people are sleeping on the ground. >> reporter: but nothing is this horrific war has gotten the attention of u.s. officials more than this chemical weapons threat. >> these reports may mean that the united states and our allies are facing the prospect of an imminent use of weapons of mass destruction in syria. this may be the last warning we get. >> reporter: i can tell you planning for all sorts of con tin jen sips is already well under way. but military action would not be easy. it could take upwards of 75,000 troops to secure those chemical weapons, which no one is eager to provide. but preside
jeremy bowen, with our bbc partners, is there tonight and reports assad's forces are waging a fierce defense. >> throughout the day and after dark, when i'm speaking to you, there are quite steady explosions of shell fire, outgoing artillery fire, going into the suburbs around the center of the city, where i am. >> reporter: residents are caught in a worsening cross fire. >> people who came from areas that are being shelled, they are on the streets, many children, sometimes...
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Dec 10, 2012
12/12
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>> yes. >> australian defense minister. whatever you down there. is warning people, dent use apple maps. it could be fatal. some people got lost in a national park. >> right. giving incomplete instructions. >> right. left at the dingo, right at the crocodile. they were getting stuck. australian police said don't use apple maps, they are dangerous. which is just bizarre. >> it is bizarre. feels like it is a little dire. in terms after warning. >> yeah. if you're under a national park in the outskirts, you're not in the hard streets of melbourne. >> people get lost in those national parks all the time. i get lost in them. follow the national dingos. follow the ants. they are going to water. >> maybe the dingo ate your lunch. >> i'm stopping there. >>> there is a concern that apps aimed at kids may track and store information about them without letting parents know. julia has been following this story for us from los angeles, and she is a mother also. julia, tell us more. >> well, mandy, the title of the fdc's new report says it all. the report is cal
>> yes. >> australian defense minister. whatever you down there. is warning people, dent use apple maps. it could be fatal. some people got lost in a national park. >> right. giving incomplete instructions. >> right. left at the dingo, right at the crocodile. they were getting stuck. australian police said don't use apple maps, they are dangerous. which is just bizarre. >> it is bizarre. feels like it is a little dire. in terms after warning. >> yeah. if...
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Dec 8, 2012
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this one of these things, maybe the driving one, is defense of marriage act was about paying the estate act. where one of the two people said she didn't have to pay the estate tax because a married couple wouldn't have to. >> reporter: this is a case from new york. a woman named edie windsor who married her partner in canada. the partner died and left edie the estate. the federal government said we can't recognize you as married. the irs says you're not married as far as we're concerned she got hit with a tax bill of $363,000. >> we'll leave it there. many thanks. nbc's pete williams. now let's get right to our panel tonight. democratic strategic jimmy williams. wabz radio talk show host mark seimone and washington times opinion writer cari picket. we have a number of topics to chew on this evening. let's begin with the breaking news out of the scouupreme cour and a legal challenge major implications for federal and private benefit payments. cari, let me go to you first and get your first reaction to this. federal versus state. constitutional liberty and rights. the end of the doma act.
this one of these things, maybe the driving one, is defense of marriage act was about paying the estate act. where one of the two people said she didn't have to pay the estate tax because a married couple wouldn't have to. >> reporter: this is a case from new york. a woman named edie windsor who married her partner in canada. the partner died and left edie the estate. the federal government said we can't recognize you as married. the irs says you're not married as far as we're concerned...
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Dec 6, 2012
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a great defense company. on top of which you're getting one of the best ultra luxury good manufacturers in gulf stream at the same time. as you all have been talking about, we think at the last possible moment after republicans and democrats have exhausted every other alternative, they'll do the bare minimum and kick the can down the road on most of it. we don't think sequestration is likely to hit. we think general dynamics business is a good business, a lot of exposure to emerging markets outside the u.s. their tech service business is doing well, even the combat and marine divisions we think will be more resilient than people are giving them credit for. and they've got a blue chip balance sheet, strong balance sheet, strong cash generation, around 10% free cash flow yield and ten times earnings right now. so we like long-term fundamentals. again, we think that republicans and democrats will kick the can down the road. and, remember, the fiscal cliff is not really a cliff. even if we come to january 1st, it
a great defense company. on top of which you're getting one of the best ultra luxury good manufacturers in gulf stream at the same time. as you all have been talking about, we think at the last possible moment after republicans and democrats have exhausted every other alternative, they'll do the bare minimum and kick the can down the road on most of it. we don't think sequestration is likely to hit. we think general dynamics business is a good business, a lot of exposure to emerging markets...
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Dec 6, 2012
12/12
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both secretary of state hillary clinton and defense secretary leon panetta issued more stern warnings to syria today after nbc confirmed syria has loaded chemicals for deadly gas into bombs. >> the whole world is watching. the whole world is watching very closely. >> secretary clinton, in fact, just wrapped up an important meeting in russia, syria's strongest ally. "time" magazine's jim frederick will join us live about the latest developments. we know president obama and speaker boehner spoke on the phone last night, talked a lot about that even though we don't know what they discussed. the first read team says a fiscal cliff deal is in sight. what do they think the big deal will be? join our conversation on twitter. find us at @tamronhall a and @newsnation. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the star
both secretary of state hillary clinton and defense secretary leon panetta issued more stern warnings to syria today after nbc confirmed syria has loaded chemicals for deadly gas into bombs. >> the whole world is watching. the whole world is watching very closely. >> secretary clinton, in fact, just wrapped up an important meeting in russia, syria's strongest ally. "time" magazine's jim frederick will join us live about the latest developments. we know president obama and...
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Dec 6, 2012
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industries like aerospace and defense in particular. through the defense cuts, they'll be substantially impacted. >> we'll leave it there. thanks for being on the program. >> thanks for having me. >> so much for the fiscal cliff. why is the head of td bank group so bullish on the united states right now? he'll join me for another cnbc exclusive next. we'll also talk about his company's earnings. >>> later, will the shaky global economy throw a wrench into luxury goods maker ppr's balance sheet? back in a flash plp. . there is no mass-produced human. every human being is unique. and there is one store that recognizes it. the sleep number store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive collection of innovations that totally individualize your sleep. perfectly comfortable pillows that adjust to your size and shape. temperature-balancing bedding. dual warmth comforters. all designed around the sleep number bed: a bed with dual-air technology that allows you to adjust to th
industries like aerospace and defense in particular. through the defense cuts, they'll be substantially impacted. >> we'll leave it there. thanks for being on the program. >> thanks for having me. >> so much for the fiscal cliff. why is the head of td bank group so bullish on the united states right now? he'll join me for another cnbc exclusive next. we'll also talk about his company's earnings. >>> later, will the shaky global economy throw a wrench into luxury goods...
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and a defense contractor, posted higher profits. better than expected. maker of tommy bahama and lilly pulitzer brands. and disappointing, down you go, 12% down there and then facebook, joining nasdaq 100 one week from today. it's down 13, but it's at 27 now. work hard, all your life and build up an estate and leave it to your kids, and like to. the government takes, and attorneys say what to do to avoid it. first, christmas music from mark stein, i don't know why my picture is up there. that's mark stein and he's singing, not me. ♪ male announcer ] at scottrade, you won't just find us online you'll also find us in person, with dedicated support teams at over 500 brancs nationwide. so when you call or visit, you can ask for a name you know. because personal service startwith a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. >> detroit, we're told, is on the verge of bankruptcy, but one member of the city
and a defense contractor, posted higher profits. better than expected. maker of tommy bahama and lilly pulitzer brands. and disappointing, down you go, 12% down there and then facebook, joining nasdaq 100 one week from today. it's down 13, but it's at 27 now. work hard, all your life and build up an estate and leave it to your kids, and like to. the government takes, and attorneys say what to do to avoid it. first, christmas music from mark stein, i don't know why my picture is up there. that's...
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Dec 4, 2012
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as such, there's an opportunity to be defensive. look for some of those lower beta strategies. look for the defense sectors. >> in the meantime, it is pretty clear the markets are anticipating we're not going to go over this cliff, isn't it? >> yeah, they sure are. i'm surprised to see the level of optimism that congress is going to come to some resolution here. i think it's scary there's no plan "b." i kind of have three ideas of my own. the first one is let's get real, folks. if everybody on wall street thinks something is going to happen, there's a good possibility the opposite is going to happen. to me, i think it's a good time to maybe take a little money off the table, go to a little cash. the second thing is, when this market -- if we go into january without a deal, we could see a market drop on a level of what happened in 2008 when we failed to come to a t.a.r.p. agreement. 30% the market lost. >> that was a 700-point selloff. >> just like that. >> so joe, what do you think about that? i know you're saying, look, don't freak out, stay calm, assess the situation. but wha
as such, there's an opportunity to be defensive. look for some of those lower beta strategies. look for the defense sectors. >> in the meantime, it is pretty clear the markets are anticipating we're not going to go over this cliff, isn't it? >> yeah, they sure are. i'm surprised to see the level of optimism that congress is going to come to some resolution here. i think it's scary there's no plan "b." i kind of have three ideas of my own. the first one is let's get real,...
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gerri: with the defense cuts come if we do over the cliff, it will cost $100 million or over that? >> 137 million. gerri: would this put you into the red? >> it certainly could. we are still looking at obama's health care plan and what it will do to the state budget. the federal strings are tied. i asked the president about this. the federal funds that come down to the state as you may cuts -- we can still have the strength attached to it. it doesn't give leeway to meet your unique circumstances in our state. we are all different. different budgets, different employment rates, different constitutions, different laws. different styles of living and means within our budget. give us some flexibility. gerri: i expect you to be a little bit more upbeat about the fiscal cliff, but i have to tell you, you sound like a lot of people in washington today. concerns over whether these leaders can get together and find common ground and resolve this issue. it would be meaningful to stay like yours. governor, thank you so much for coming on. >> thank you, gerri. gerri: it's not just politicians
gerri: with the defense cuts come if we do over the cliff, it will cost $100 million or over that? >> 137 million. gerri: would this put you into the red? >> it certainly could. we are still looking at obama's health care plan and what it will do to the state budget. the federal strings are tied. i asked the president about this. the federal funds that come down to the state as you may cuts -- we can still have the strength attached to it. it doesn't give leeway to meet your unique...
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Dec 7, 2012
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we asked jeffrey white, a former analyst for the defense intelligence agency, what would happen if the rebels cut off damascus? >> it's the end of the regime. the regime can hang on for a while because it has troops in the city. it has ammunition and supplies and so on but it means the city will fall. it cannot stand alone. >> reporter: u.s. intelligence does not believe damascus is likely to fall right away, but ikete had an estimate. b you can feel it. you can sense it. ow looks like the regime's being defeated, not tomorrow, maybe, tt not too far off, i think. >> reporter: can you put a time frame on it? >> i'm thinking in the next couple of months. >> reporter: the syrian tvernment has vowed not to use chemical weapons against its own people, but it regards the opposition as foreign terrorists. >> pelley: david, thank you. those so-called foreign acrrorists are actually the syrian people who rose up against the 41-year-old assad family dictatorship. il's estimated 40,000 people have been killed, mostly civilians. one reason assad has held on-- he's had the support of russia, but th
we asked jeffrey white, a former analyst for the defense intelligence agency, what would happen if the rebels cut off damascus? >> it's the end of the regime. the regime can hang on for a while because it has troops in the city. it has ammunition and supplies and so on but it means the city will fall. it cannot stand alone. >> reporter: u.s. intelligence does not believe damascus is likely to fall right away, but ikete had an estimate. b you can feel it. you can sense it. ow looks...
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well the honest answer is anybody read my book we talk about this defense intelligence agency has had the capability sense nine hundred ninety five a century one to go back and ironically find an interview done by some by. missed are when she was with c.n.n. with general clapper who was then director of the back in one thousand nine hundred five talked about the very same set of issues believe it or not and the whole thing is is that this is this more of an expansion of existing capabilities and something new defense intelligence agency in the one hundred ninety five reorganization absorb something called g. tip humint that's general intelligence fund human which basically it was a consolidation so while this is not new this this the idea of going to six hundred collectors is significant and does indicate that there's a serious effort to expand let me. comment on that i think it's insane that they're saying anything publicly about this this is truly something that should only be talked about in a classified level so the fact that this hit the the new york times is as bad as you know t
well the honest answer is anybody read my book we talk about this defense intelligence agency has had the capability sense nine hundred ninety five a century one to go back and ironically find an interview done by some by. missed are when she was with c.n.n. with general clapper who was then director of the back in one thousand nine hundred five talked about the very same set of issues believe it or not and the whole thing is is that this is this more of an expansion of existing capabilities...
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they're not taking the type of defensive, decisive action. if we get a downgrade and if this happens, it will be terrible for the market. that's what's potentially on the market, if we don't make a deal in washington. >> scott, let me ask you again how you want to allocate capital then in that environment. i know george young is with us again, joining the conversation. i want to ask you the same question. go ahead, scott. how are you investing right now? >> maria, i think the best way forward is the way it's worked since the bottom of the market in 2009. risk assets are where it's at. the fed is very supportive. the consumer is back and engaged. housing is getting better. the fiscal cliff is actually constructive from the standpoint it causes people to come together and compromise because going over the cliff while we may do it for a short time period is not beneficial to anybody. it hurts everybody. >> so risk assets being, what, technology? what does that mean, technology? >> not necessarily. we would stay with dividend payers. we would als
they're not taking the type of defensive, decisive action. if we get a downgrade and if this happens, it will be terrible for the market. that's what's potentially on the market, if we don't make a deal in washington. >> scott, let me ask you again how you want to allocate capital then in that environment. i know george young is with us again, joining the conversation. i want to ask you the same question. go ahead, scott. how are you investing right now? >> maria, i think the best...
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cheryl: he was very defensive about job creation. if you look of the transcript we get peaks of the interview and basically saying we are creating jobs and if you look at the partners, 6,000 jobs. i don't know if that can fly or not but that is his point. dennis: i don't think it is the job of a company to create jobs. a company creates wealth for shareholders and good products and services. where does that is a matter of economics and have to flow to the highest yield. it is not a corporate responsibility. it is not patriotic duty of corporations to create jobs in this country. stuart: to have jobs here give them better conditions. for creating jobs. cheryl: let's stay on the jobs issue. job cuts increasing for the third consecutive month. employers announcing plans to lay off 57,000 workers in november. that is 20% from october, up 20% from october. the government jobs report going to be coming out tomorrow but no matter what, look at this, this is the unemployment rate for african-americans compared to the jobless rate. at huge di
cheryl: he was very defensive about job creation. if you look of the transcript we get peaks of the interview and basically saying we are creating jobs and if you look at the partners, 6,000 jobs. i don't know if that can fly or not but that is his point. dennis: i don't think it is the job of a company to create jobs. a company creates wealth for shareholders and good products and services. where does that is a matter of economics and have to flow to the highest yield. it is not a corporate...
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the big pot is defense spending. we spend trillions on defense. federal pension that is 22 percent of the federal budget. we give pensions to members of congress and lt's look at that and look at entitlements and look at the big honey pot and the big spending. >> i am all with mark in bringing down the pensions of the politicians. here are the facts, in 2009, we had a stimulus spending. 800 billion extra from 2008. guess what, it never stopped. it was supposed to be a one stop 2010 and 11 and 12 we have maintained the extra spending in a time when we had cut back on military spending. >> absolutely. >> and that is increasing and guess what, that adds up to the deficit, right? >> david, the problem is deeper than wh you are describing. this goes back decades. when you look at entitlement spending over the last half century, it has steadily crept up four percent every year and that includes adjustments for pulation growth. so what then? you increase taxes four percent every year? that is absurd. at some point we need both parts to come together and
the big pot is defense spending. we spend trillions on defense. federal pension that is 22 percent of the federal budget. we give pensions to members of congress and lt's look at that and look at entitlements and look at the big honey pot and the big spending. >> i am all with mark in bringing down the pensions of the politicians. here are the facts, in 2009, we had a stimulus spending. 800 billion extra from 2008. guess what, it never stopped. it was supposed to be a one stop 2010 and 11...
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major cuts to defense spending, no changes to entitlements. david: if i'm tea party member i've had my legs cut out from john boehner. >> that is absolutely you try. if impresident of the united states and democrats i need a plan that allows us to raise the debt ceiling in 2013. the way i view it you blunt severe components of it but still fiscal drag at beginning of the year. you will still have uncertainty what the size and scope of the federal government will look like 2013 and beyond. is it priced into the market? these markets are trading at generally reasonable valuations. certainly not as cheap as it was last august but stocks are as cheap to bonds as they have been in a very long time. lauren: thank you, brian. i love how we said our portfolios are out of style. david: why he is senior economist for oppenheimer. thanks a lot. >>> a big blow to organized labor in michigan of all places the home of the uaw. state lawmakers approving right to work legislation there. coming up next a state senator on the fast and controversial move that to
major cuts to defense spending, no changes to entitlements. david: if i'm tea party member i've had my legs cut out from john boehner. >> that is absolutely you try. if impresident of the united states and democrats i need a plan that allows us to raise the debt ceiling in 2013. the way i view it you blunt severe components of it but still fiscal drag at beginning of the year. you will still have uncertainty what the size and scope of the federal government will look like 2013 and beyond....
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Dec 6, 2012
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this season, a good offense is the best defense. lysol. mission for health. . >>> the syrian military is prepared to use chemical weapons, including seron nerve gas against its own people. will this guy give that order? new details ahead. >>> president obama remains firm that the wealthy must pay more, and a few republicans are joining him. >>> pippa visits sister te, the $8 million man, and nasa's high res look at you on our planet earth. "early today" starts right now. >> announcer: this is "early today" for thursday, december 6th, 2012. >>> good morning, everyone. i'm lynn berry. well, this week president obama put syrian leader bashar al assad on notice specifically about the use of chemical weapons, and now we know why. pentagon sources tell nbc news syria is preparing chemical weapons for their possible use against the syrian people in the form of aerial bombs. >> reporter: as the fighting grows more intense and syrian rebels close in on damascus, the syrian regime has turned increasingly desperate. u.s. officials tell nbc news the s
this season, a good offense is the best defense. lysol. mission for health. . >>> the syrian military is prepared to use chemical weapons, including seron nerve gas against its own people. will this guy give that order? new details ahead. >>> president obama remains firm that the wealthy must pay more, and a few republicans are joining him. >>> pippa visits sister te, the $8 million man, and nasa's high res look at you on our planet earth. "early today"...
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an absolute defense to defamation is the truth. and so therefore if her statements were true, she's protected. i think the underlying goal of this company is to chill this in the future. meaning, if other people want to write things about them, true or not, they're going to say wasn't that woman sued for all of this money? i'm not going to express my opinion. and that i think is the ultimate goal. but defamation cases very, very tough to prove. >> but can businesses, they really can't protect themselves from whatever somebody chooses to do online. >> do good work. >> right. but not everyone does good work. >> right. ultimately businesses can protect themselves. but here's the problem, the problem is that, look, everyone has an
an absolute defense to defamation is the truth. and so therefore if her statements were true, she's protected. i think the underlying goal of this company is to chill this in the future. meaning, if other people want to write things about them, true or not, they're going to say wasn't that woman sued for all of this money? i'm not going to express my opinion. and that i think is the ultimate goal. but defamation cases very, very tough to prove. >> but can businesses, they really can't...
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that usually comes from the defense contractors. so they're like what! cuts in defense! no no, no, let's make a deal. we can raise them up a couple of points, that's all right. just don't take $7 billion from me. there's self interest there. there's tremendous moment to make this happen, unless you're looking at republicans. and we have got a treat for you today. we're going to do a little hot tub time machine action here. go back to 1993 when president clinton said that he was going to raise the marginal tax rates. here was those same old republicans, making the same old points 19 years ago. >> we have a solid plan ready to go to reduce the deficit calling for no tax increases and true cuts in government spending. >> as opposed to the clinton plan tax spend job loss. >> the president is taking us down the path of more travels, more spending and bigger government. >> let's force the president and the people who run the house and senate the democratic majority to play the cards on the table. >> he has to reduce the deficit for real. >> we'll have no new taxes and we'll ha
that usually comes from the defense contractors. so they're like what! cuts in defense! no no, no, let's make a deal. we can raise them up a couple of points, that's all right. just don't take $7 billion from me. there's self interest there. there's tremendous moment to make this happen, unless you're looking at republicans. and we have got a treat for you today. we're going to do a little hot tub time machine action here. go back to 1993 when president clinton said that he was going to raise...
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case, very bold statement there, to someone whose company will be decimated by the spending cuts to defense companies. you do not want to miss this confrontation. ricans are alwayso work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ >>> pretty clear apple stock is having its worst week in more than two years. let's get to bertha coombs with the details. >> tough end of the week ear. it's apple's horrible, awful week. today's decline saw shares hit a real technical weak point, the so-called death cross. that's where the 50-day moving average, the top line in yellow, crossed below the orange line. that's the 200-day moving average. according to the spoke investment group, the last time that happened in september 2008, shares didn't bottom until januar
case, very bold statement there, to someone whose company will be decimated by the spending cuts to defense companies. you do not want to miss this confrontation. ricans are alwayso work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global...
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. >> i was talking to a defense analyst the other day. he said the problem with all of this is the fact i'm worried about my 9-year-old. i'm worried about my 15-year-old. they're going to be paying unbelievable tax rates because we are dumping all of this on them. so on the one hand, yes, it looks like -- he looks a little crazy in this. a little goofy. at the same time, he's appealing to kids because, guess what? it's on you, kids. >> and you know what? i'm thinking that generation is not listening right now. they're not paying attention. >> when they pay the tax rates at 90% or 75% like france is doing, they'll listen. thanks, alan simpson. >> we applaud your efforts there, senator. good job. all right. we'll come back with the closing countdown. market still losing altitude. up just 94 points. >> after the bell, he said there will be no fiscal cliff deal without higher tax rates. find out if treasury secretary tim geithner thinks going over the deal is a better option than compromising on revenue. he joins us at 4:00 p.m. eastern. you'
. >> i was talking to a defense analyst the other day. he said the problem with all of this is the fact i'm worried about my 9-year-old. i'm worried about my 15-year-old. they're going to be paying unbelievable tax rates because we are dumping all of this on them. so on the one hand, yes, it looks like -- he looks a little crazy in this. a little goofy. at the same time, he's appealing to kids because, guess what? it's on you, kids. >> and you know what? i'm thinking that generation...
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there is duplication there. >> and defense? >> and defense. i spent a lot of times in the wings of the pentagon. if you don't think there's more money to be cut in contracting at the pentagon, you don't understand what has happened at the pentagon. >> should these sequester cuts on defense be upheld, senator? >> david, as much as i love claire, those are not the painful cuts that have to happen. we really have to look at much deeper reforms to the entitlements. and i would say that speaker boehner's biggest problem is not his base. it's having a willing partner on the other side that's really willing to look at these kinds of reforms. and i think that's going to happen. i think there's a possibility anyway. but i don't think it's his base. i think the speaker is frustrated right now because as you've mentioned, the white house keeps spiking the ball on tax increases for the wealthy. but has not yet been forthcoming on real entitlement reform. and without the two, there really is no deal. >> i want to come back to taxes. grover norquist, who wi
there is duplication there. >> and defense? >> and defense. i spent a lot of times in the wings of the pentagon. if you don't think there's more money to be cut in contracting at the pentagon, you don't understand what has happened at the pentagon. >> should these sequester cuts on defense be upheld, senator? >> david, as much as i love claire, those are not the painful cuts that have to happen. we really have to look at much deeper reforms to the entitlements. and i...
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Dec 5, 2012
12/12
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and to timmy's defense, he talked about it back in september when the stock was traiting at 685. >> yeah. let's get more on the billing move that we saw today in apple. bring in jean munstra of paper jaffrey. gene, it will be fair to say your price target is $900. >> that's correct. >> and you're sticking by it. >> yes. >> in terms of decline that we've seen, how concerned about the sentiment that it's turned to the point where we are looking at the charts on apple. we're taking a look at that pe graph that we threw up there. we saw the p on apple in a steady decline since 2009 which coincides with the iphone 3gs. at what point do we catch on with apple. apple has the cool factor, apple will have products in the pipeline, apple will deliver? >> there's a few things going on there. the pe side there's not much incompetent kremtal down side because of the cash they're generating. in terms of the technical side, i'm a fundamental analyst and did a lot of calls with analysts there. i feel like a got a master's on technical analysis based on an earful from technical investors. that's a big ea
and to timmy's defense, he talked about it back in september when the stock was traiting at 685. >> yeah. let's get more on the billing move that we saw today in apple. bring in jean munstra of paper jaffrey. gene, it will be fair to say your price target is $900. >> that's correct. >> and you're sticking by it. >> yes. >> in terms of decline that we've seen, how concerned about the sentiment that it's turned to the point where we are looking at the charts on...
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Dec 3, 2012
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the defense of marriage act is a federal law. it says nothing about whether states have to recognize gay marriage. it just says that if they do the federal government won't recognize them. the prop 8 case potentially raises a much more fundamental issue whether a state can deny same-sex marriage. the court could decide it on much more narrow grounds. >> pete, neither case could find a path to legalize gay marriage on a federal level? >> reporter: you know, that's not clear. if they take the proposition 8 case from california, when the trial judge decided the case, he said as a matter of the federal constitution, a state cannot deny same sex couples the rate to get married. now when the appeals court ruled, it did so on a much more narrow only grounds. there is always the possibility they could get to the bedrock issue. >> there is a way. >> reporter: right, there is a path. >> pete williams at the supreme court, thank you, pete. >> reporter: you bet. >>> our gaggle will be here next to kick off the week. but first the white house
the defense of marriage act is a federal law. it says nothing about whether states have to recognize gay marriage. it just says that if they do the federal government won't recognize them. the prop 8 case potentially raises a much more fundamental issue whether a state can deny same-sex marriage. the court could decide it on much more narrow grounds. >> pete, neither case could find a path to legalize gay marriage on a federal level? >> reporter: you know, that's not clear. if they...
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Dec 6, 2012
12/12
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the defense industry projects one in five defense contracts in california would be lost. the aerospace industry is projecting that 135,000 department jobs would be cut along with 90,000 jobs for a total of about 225,000 jobs lost in california over the next few years. alison burns, ktvu channel 2 news. >>> 8:16. well, today will mark the 9 oth annual lighting of the national christmas tree. president obama and his family, they will flip a switch lighting that tree this evening. neil patrick harris, remember doogie howser? he will be hosting the event. james taylor and the fray will be among the group of perform. president calvin coolidge started this tradition back in 1923. >>> well, free flu shouts are offered for all bay area youth between the ages of 4 and 18 at pharmacies at most local target stores. the paige family foundation set up by larry paige and his wife, they are paying for those flu shots. the adults often get immunized at work. this program makes it easy to get kids immunized as well. more information at www.shootheflu.org. >>> the grammys have been nominat
the defense industry projects one in five defense contracts in california would be lost. the aerospace industry is projecting that 135,000 department jobs would be cut along with 90,000 jobs for a total of about 225,000 jobs lost in california over the next few years. alison burns, ktvu channel 2 news. >>> 8:16. well, today will mark the 9 oth annual lighting of the national christmas tree. president obama and his family, they will flip a switch lighting that tree this evening. neil...
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Dec 8, 2012
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the first is the defense of marriage act. the 1996 law denies federal benefits to legally married same-sex couples. right now around 120,000 legally married same-sex couples in the u.s. the second is california's proposition 8. that made same-sex marriage illegal in the state. a decision on these cases is expected next year. >>> is this the end of gangnum style mania? korean pop star psy which is the most watched video in youtube history is apologizing for an anti-american lyrics that aired in 2004. made its way around online. it included lyrics calling for the deaths of american troops serving in iraq. in his apology he said his performance was emotionally charged and, "while i'm grateful for the freedom to express one self, i learn there is some limits to what language is appropriate and i'm deeply sorry for how these lyrics will be interpreted. i will forever be sorry for any pain i have caused by those words." >>> we've got much more ahead this hour. here's a look at what's coming up. >>> it was the picture that spark eed
the first is the defense of marriage act. the 1996 law denies federal benefits to legally married same-sex couples. right now around 120,000 legally married same-sex couples in the u.s. the second is california's proposition 8. that made same-sex marriage illegal in the state. a decision on these cases is expected next year. >>> is this the end of gangnum style mania? korean pop star psy which is the most watched video in youtube history is apologizing for an anti-american lyrics that...
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Dec 5, 2012
12/12
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CNBC
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basically it could leave state and federal governments with huge budget holes and another big defense dit problicit probl. here's how it works. companies have announced more than 23 million inn in dividends this year alone, including 2013 dividends being paid today. investors are also selling stocks in companies and real estate before that clip. we have billions of dollars in income being shifted from 2013 to today. that means federal and state governments will see a tax bonanza this year and a tax plunge next year. the risk here is that governments assume that this year's tax boom is the new normal and they spend accordingly. we'll then have big deficits in 2013. now we have been here before. this happened in california in 2 dhou 2001. capital gains boomed, then crashed. people front loaded their income when they expect it to go up, just like they're doing today. cap gains doubled to $52 billion, then the next year they crashed to $33 billion. the government struggled to fill that hole. the lesson here is that tax changes create huge spikes and crashes in revenue. now if governments
basically it could leave state and federal governments with huge budget holes and another big defense dit problicit probl. here's how it works. companies have announced more than 23 million inn in dividends this year alone, including 2013 dividends being paid today. investors are also selling stocks in companies and real estate before that clip. we have billions of dollars in income being shifted from 2013 to today. that means federal and state governments will see a tax bonanza this year and a...
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Dec 10, 2012
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one of the areas we've got a big response is in defense. defense cuts are going to be around 9.4%. a lot of people trading on that. northrop grumman, probably the cheapest in the aerospace, i think a lot of defense options will pop. >> this is a stock that rises only on a deal. is that what you're saying? >> yes. >> dr. j., what about you? >> fxi, judge. the reason, and i don't often go for the etfs as the way to play something like this, but given that it's china, i think the second largest customer of china, the u.s., avoiding the fiscal cliff, will be very good for them. you look at the build that it's had over the past three weeks, judge, it's up from roughly 35, pushing up towards 39 right now, that etf is, and i think if and when we do push this behind us, the fiscal cliff, that is, i think this one goes into the mid 40s. so i would buy fxi. >> let's debate these around the table a little bit. stephanie? i mean you're more positive i guess than negative on china. you like the fxi? >> we have been involved in it for awhile. we like a lot of the industrials. we like a lot of th
one of the areas we've got a big response is in defense. defense cuts are going to be around 9.4%. a lot of people trading on that. northrop grumman, probably the cheapest in the aerospace, i think a lot of defense options will pop. >> this is a stock that rises only on a deal. is that what you're saying? >> yes. >> dr. j., what about you? >> fxi, judge. the reason, and i don't often go for the etfs as the way to play something like this, but given that it's china, i...
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Dec 10, 2012
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now we get to secretary of defense. the buzz in washington on the front page of "the hill," a republican, chuck hagel, former senator from nebraska. >> a per en y'all bride's maid. enial bride's maid. >> i heard from two people who pretend they have good sources in the defense department michelle floronoy said president obama wanted to appoint her as defense secretary when robert gates left but felt he couldn't have. this is such inside washington. development we love this. >> waiting for someone to mention sam nun's name the obligatory sam nun mention. >> talk about bride's maid but wanted to nominate her. felt like he couldn't have one at state and one at defense in his first term. but now he can do anything he wants. >> gloves off >> bill: so he could have susan rice and michelle flornory or chuck hagle. i like chuck hagle a lot. i remember when we thought he was going to run for president. >> uh-huh. >> then he had that news come friends. come on. yeah. do you think these -- timing we will know before the end of the
now we get to secretary of defense. the buzz in washington on the front page of "the hill," a republican, chuck hagel, former senator from nebraska. >> a per en y'all bride's maid. enial bride's maid. >> i heard from two people who pretend they have good sources in the defense department michelle floronoy said president obama wanted to appoint her as defense secretary when robert gates left but felt he couldn't have. this is such inside washington. development we love...
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Dec 5, 2012
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it had not yet been named silicon valley, but you had the defense industry; you had hewlett-packard, but you also had the counter-culture of the bay area. that entire brew came together in steve jobs. he was sort of a hippie-ish rebel kid, loved listening to dylan music, dropped acid, but also he loved electronics. >> jobs would eventually cross paths with a computer wizard at berkeley five years his senior named steve wozniak. they became fast friends, sharing a love of high-tech pranks and a disdain for authority. one of the things they did was to copy and improve an illicit device called a blue box, which reproduced the tones that the phone company used and allowed users to make free long-distance phone calls. >> wozniak loves the blue box. he's doing it as a prank. steve says, "we can sell them. we can market them." and they sold about 100 of 'em. and jobs said to me, "that's the beginning of apple. when we started doing that blue box, i knew that with wozniak's brilliant designs and my marketing skills, we could sell anything." >> that was still a few years off. jobs enrolled at
it had not yet been named silicon valley, but you had the defense industry; you had hewlett-packard, but you also had the counter-culture of the bay area. that entire brew came together in steve jobs. he was sort of a hippie-ish rebel kid, loved listening to dylan music, dropped acid, but also he loved electronics. >> jobs would eventually cross paths with a computer wizard at berkeley five years his senior named steve wozniak. they became fast friends, sharing a love of high-tech pranks...
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Dec 4, 2012
12/12
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grover -- you're playing defense here -- one man elected to nothing. the fact that saxby chambliss comes up, i don't have to live up to some pledge i made 20 years ago and calls up and has grover on the phone going through the transcript of what he said and he's apologizing for each segment of it. what's going on? a senator has to kiss butt to this guy? >> i have known grover for a long time, and i like him, and he's representing -- >> you're afraid of him, too. >> i'm not afraid of him. he represents a cause, and he's been amazingly successful because taxes have gone down for a long time because of grover. what do we know, because taxes are automatically going up. republicans understand if you have to cut a deal, you have to cut a deal eventually. i think it's easier to cut a deal after the taxes automatically go up. then you're fighting for tax cuts, not tax increases, but we'll see. and the fact of the matter is that grover is just a vessel for a bigger issue. taxes used to be -- >> he seems to be calling the shots. >> he's not calling the shots. >>
grover -- you're playing defense here -- one man elected to nothing. the fact that saxby chambliss comes up, i don't have to live up to some pledge i made 20 years ago and calls up and has grover on the phone going through the transcript of what he said and he's apologizing for each segment of it. what's going on? a senator has to kiss butt to this guy? >> i have known grover for a long time, and i like him, and he's representing -- >> you're afraid of him, too. >> i'm not...
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Dec 7, 2012
12/12
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KRON
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but he maintains the shooting was in self defense. n-b-c has not commented. >> michigan's legislature has passed a pair of controversial "right to work" bills. despite the protests of hundreds of workers and union advocates. reminiscent of the union demonstrations in wisconsin some months back, this was the scene at the michigan state capitol , while the vote was being taken today. the bills 'limit' workers rights to strike and to picket. also. membership and paying dues into the union, would not be a condition of employment. several protesters were arrested after police say, they tried to rush into secure areas of the building, and were lying on the floor. >>pam: same-sex couples line up in washington state. to apply for marriage licenses. that's because, as of 12:01 this morning, same-sex marriage became legal in the state. more than 200 couples were lined up at the county courthouse in seattle. a couple that had been together for 35-years, were first in line. >> "to be number one is really humbling, you know, because i think of all
but he maintains the shooting was in self defense. n-b-c has not commented. >> michigan's legislature has passed a pair of controversial "right to work" bills. despite the protests of hundreds of workers and union advocates. reminiscent of the union demonstrations in wisconsin some months back, this was the scene at the michigan state capitol , while the vote was being taken today. the bills 'limit' workers rights to strike and to picket. also. membership and paying dues into...
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. >> it was shown but it was gist a black and white a binning, defense had to ask. the same picture but now in color, defense asked again and again. to be fair torosecution,. lou: i know how fair you lawyers like to be. >> that iss. they may not have had theolor in their own file. lou: are we going through this? >> just giving you both sides. lou: do you think that any grand jury would have broughthis -- if they had seen that. no. this -- >> they saw the black andhite to beair, they jusdidn't see the cor. >> i don't think that black and white photo and cor photo elicit the same span, you look at this -- response, you look at this photo you immediately think self-defense. lou: we have color otherwise inkhat a travesty of justi all those grand juries in the day of black and white photos. >> it is probable cause for a grand jy. lou: and do you thnk that he should be prosecuted? >> you know, my sense is given that picture, i'm a lot less supporve of pro psecution but. >> it would have changed a lot of people's mines, and if the media had not rushehed to judgeo quickly.
. >> it was shown but it was gist a black and white a binning, defense had to ask. the same picture but now in color, defense asked again and again. to be fair torosecution,. lou: i know how fair you lawyers like to be. >> that iss. they may not have had theolor in their own file. lou: are we going through this? >> just giving you both sides. lou: do you think that any grand jury would have broughthis -- if they had seen that. no. this -- >> they saw the black andhite to...
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Dec 10, 2012
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the missiles had been defense -- defensive missiles have been shared. number of states in the region. and, frankly, the president's declaration seven pretty explicit. but to the choice of saying, do we want to manage this or just contain the threat? we going to presented and reiterated? statements by leon panetta, defense secretary have dropped some of the hesitation is that were earlier. and so, again, there has been a reiteration of how seriously we take the threat if we are prepared to act if necessary. think it's everyone so we don't get to that, but i think the measures that are being taken are the ones that make that threat real. we hope it will have some influence. if you go back, all the problems that has posed and all the missteps that got us into the war, it concentrated the mind of the iranians. that was a time and actually suspended a lot of their nuclear activities, additional inspections and the rest. so they are susceptible to military pressure. get it right so that you apply the pressure but never have to take into actuality. >> supreme
the missiles had been defense -- defensive missiles have been shared. number of states in the region. and, frankly, the president's declaration seven pretty explicit. but to the choice of saying, do we want to manage this or just contain the threat? we going to presented and reiterated? statements by leon panetta, defense secretary have dropped some of the hesitation is that were earlier. and so, again, there has been a reiteration of how seriously we take the threat if we are prepared to act...
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Dec 6, 2012
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the bulk of it is going there. 20% is going to defense. discretionary spending about 13% then the 7% interest which is the interest that we are paying on our debt. that's also mandatory. we have to make good on our debt. >> which is why anybody serious about the debt says you have to look at entitlements. based 0en that. where are the areas for compromise? >> so when you look at where they're talking about cutting spending, it's in the discretionary category. about $600 billion in discretionary spending is on the table now. when you actually look at the programs like social security and medicare, one of the ideas for compromise that's been on the table is increasing that age. the availability of medicare begins at 65. if you were to increase it to 67, about $250 billion in savings. also, if you look at medicare cost sharing. this is from the provider. if you go back to the providers to provide medicare and say to them, we need you to come around and provide, pony up a little bit of the money, you can save $350 billion, and also social secu
the bulk of it is going there. 20% is going to defense. discretionary spending about 13% then the 7% interest which is the interest that we are paying on our debt. that's also mandatory. we have to make good on our debt. >> which is why anybody serious about the debt says you have to look at entitlements. based 0en that. where are the areas for compromise? >> so when you look at where they're talking about cutting spending, it's in the discretionary category. about $600 billion in...
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defense secretary leon panetta issued a warning to syria today saying the united states will not stand by and watch the country cross a quote unquote red line. >> whole world is watching very closely. and the president of the united states has made very clear that there will be consequences. there will be consequences. if the assad regime makes a terrible mistake by using these chemical weapons. >> syria denies it is mobilizing chemical weapons in a civil war in which 40,000 people have lost theirs in 21 months. instead, they say they're trying to create fear and set for an attack. hillary clinton met with russia's foreign minister twice today in dublin. these are important meetings because russia is a syrian alley. but is it too late? national security contributor, fran townsend, is a member of the cia. cedrick layton member of the joipt staff. what are those consequences? is the u.s. going to passing the point of no return here? >> well, it is, look, the most recent information suggests they're preparing to be able to launch these warheads containing gas and other chemical weapons. t
defense secretary leon panetta issued a warning to syria today saying the united states will not stand by and watch the country cross a quote unquote red line. >> whole world is watching very closely. and the president of the united states has made very clear that there will be consequences. there will be consequences. if the assad regime makes a terrible mistake by using these chemical weapons. >> syria denies it is mobilizing chemical weapons in a civil war in which 40,000 people...
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Dec 7, 2012
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providing for the common defense in a carefully measured way. and second, promote the general welfare. it's not just the welfare of the head of his or the have nots. it's the general welfare of all citizens of this country. and secure the blessings of liberty under the constitution. members ought to simply read that and say to themselves what can i do? while our press release says they should communicate with the people. but i would like to pose a challenge because here is some of it, and i thank each of you for coming. are there people that hold the elections of communications we've only got a short period of time to communicate. and i think that we should communicate to those people who are benefiting the most in this country from their economic status, that status having been achieved in a large measure by many years of hard work, sweat and taking a risk, but now is your chance individually and collectively to step up and communicate with your members of congress. the major members, those that benefit the most, that have the most at stake by
providing for the common defense in a carefully measured way. and second, promote the general welfare. it's not just the welfare of the head of his or the have nots. it's the general welfare of all citizens of this country. and secure the blessings of liberty under the constitution. members ought to simply read that and say to themselves what can i do? while our press release says they should communicate with the people. but i would like to pose a challenge because here is some of it, and i...
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no, i have not reduced the budget for the defense. but what he has done, melissa is move his green agenda into the, under the defense so we're paying for all this. now, senator mccain and i took this out. we had two changes that we made in the law to keep them from doing that. one was a section that said you can no longer use our readiness dollars to buy all this fuel and all this stuff. and then, we also have had a prohibition against using defense dollars to build refineries. that can be done in the private sector. well on the floor there was an amendment, pretty much down party lines. mark udall had one amendment and hagen had the other one, to kill our efforts, to keep them from using our defense dollars for a green agenda. melissa: does anybody at the white house understand when people are upset having their taxes raised, there are a lot of people out there that want to raise everybody's taxes when you get upset about having your own taxes raised we see ridiculous spending like this going on. if you can't spend my tax dollars res
no, i have not reduced the budget for the defense. but what he has done, melissa is move his green agenda into the, under the defense so we're paying for all this. now, senator mccain and i took this out. we had two changes that we made in the law to keep them from doing that. one was a section that said you can no longer use our readiness dollars to buy all this fuel and all this stuff. and then, we also have had a prohibition against using defense dollars to build refineries. that can be done...
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Dec 6, 2012
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a slight positive on reducing non-defense spending for republicans. but then you take these last three. raising the retirement age, raising income taxes for everybody, raising medicare for spending. net negative for all three political factions. democrats, republicans, and independents. one thing you'll notice here quickly is that the red here, reducing military spending debt, is the most net negative for the republicans. even more negative than raisings taxes on all people. >> you know, i look at that. if i'm understanding it correctly, my initial reaction is, are americans just in a fantasy land over medicare spending? you can't get there unless you reduce medicare spending. >> i think that may be true. i think when we talk about leadership and political leadership taking risks, i think one of the things people have to do is politicians step forward and say, okay, here's the benefit and here's the cost. if weaver get there, we can start to poll that and ask people, will you pay "x" amount for this government service. that's really the question that'
a slight positive on reducing non-defense spending for republicans. but then you take these last three. raising the retirement age, raising income taxes for everybody, raising medicare for spending. net negative for all three political factions. democrats, republicans, and independents. one thing you'll notice here quickly is that the red here, reducing military spending debt, is the most net negative for the republicans. even more negative than raisings taxes on all people. >> you know,...